Glut remain. Uber shares rise as it says it is emerging from the virus lockdown. Are getting breaking news crossing the bloomberg when it comes to the new zealand budget. The budget deficit of new zealand at 2. 6 9 billion kiwi dollars 2. 69 billion kiwi dollars. The march balanced budget is just about 4 billion less than forecast. Annette net crown debt has risen dated march 31. That headline number a shortfall of 2. 69 billion kiwi dollars. We know the new zealand economy is better prepared than most in terms of dealing with these extraordinary Monetary Policy decisions, and the fact that the country went into a very strict an early monthlong lockdown, and it has only just emerged from that. We heard from vr begins at talking about how estimates of gdp for the period from the rbnz for the period. 2. 7 billion kiwi dollars, shery. Shery we are seeing u. S. Futures Holding Steady as stocks rose. We have more positive sentiment that u. S. And chinese trade negotiators could be speaking
But says ridehailing bookings fell for the First Time Ever last quarter. Shares rise on signs that it is emerging from the virus slowdown. Take a look at how we are setting up when it comes to the final trading session of the week in asia. U. S. Futures flat after we saw gains on wall street. Despite those historically high unemployment and jobless levels that we are still seeing in the u. S. , there is some sort of consensus among Market Participants that the worst may the over but we are looking ahead to the optimism of the economy reopening. We are also seeing optimism when it comes to new zealand, this despite the budget deficit numbers that were released earlier from the treasury report. New zealand just emerging from that stated four lockdown with the economy stage four lockdown. Also outlining steps for a gradual return to more normal economic functioning. New zealand on track for an entire week of gains. Definitely the outperform in the region. Ofcould get maybe a gain. 25 . We
Weve had a pretty eventful 36 hours. The price of oil, we look at the mechanisms that led to that. We will look at markets. We had an interesting note on the pound. Brexit has taken a little bit of a back step with so much, the lockdown. Yesterday was the first day of talks resuming on brexit between e. U. U. K. And e. U. , the saying they will not extend the transition period. We begin this busy newsday with wti true crude again below 0 dollars a barrel, recovering from yesterdays wipeout which saw plunges in new york of up to 41 a barrel, the first time they have gone negative in history. The june Contract Trading above 20, spread reflecting growing concern over shortage of storage space. The u. S. Has information north Korean Leader kim jongun was in Critical Condition after surgery last week, according to an official. His current status is not known. The Trump Administration seeking more details. South korean Officials Say kim is conducting normal business. President donald trump s
Around 250,000. The u. S. Planes china. Blames china. Warren buffett bails out of u. S. Aviation. He says the coronavirus has changed the Airline Industry forever. Shery breaking news out of south korea, getting Consumer Price inflations. It is an deflation territory. This is now a contraction of 0. 6 . This is a bigger decelerations when itt was expected. Comes to the year on year figure, a little bit better, still accelerating, 0. 1 . Suffice it to say there is a lot of pressure on Consumer Prices and we have had social distancing measures continue to dampen command demand. You strip out a little bit of energyactors including factors, cpi still accelerating 0. 3 but missing expectations. This would lead to more pressure on the bank of korea to do more. Bloomberg economics expecting a 28e cut as soon as the may meeting and further measures to bolster liquidity. Look at how markets are trading, seeing Downside Pressure for kiwi stocks falling more than 1 , the lowest level in more than
Congress is negotiate its next round of Coronavirus Relief for the economy and weve seen a stunning move in oil crude was higher by 2 now down 9 as we await the final details out of the opec meeting. Energy sector now word on the s p. Yeah, been a real reversal there. Coming up on todays show, dan niles tweeting a warning about the rally. Hes going to join us with the risk he sees at these levels, plus, well speak with max levchin. Well ask what his micro loan customers are buying amid the shutdown and his read on the state of start ups right now lets focus on the big stories were watching today though. Steve liesman has detailes on te feds big moves and kayla is following the battle for more stimulus on capitol hill but steve, were going to go to you first to talk about the fed. Yeah, morgan, just quick moves the fed has announce nd the last hour. The its reduce uing the purchases of treasuries and mortgages. Treasuries down from 30 to 50 billion a day. Down to 15 from 25 apparently,